Book review – The speed of trust

Speed of trust
Speed of trust

Price: 500 INR

Author: Stephen MR Covey

This book was suggested to me quite some time back (by one of my mentors) got a chance to complete it recently. Written by Stephen MR Covey, son of Stephen Covey (senior), Speed of trust is a wonderful account of trust building in human relations. Personally, my experience with trust building is been a roller-coaster ride for me. I enjoyed tremendous amount of benefits in cases where I enjoyed higher level of trust, on the other hand struggled a lot when trust levels are low with the other person. Its hard to explain trust, mainly because “things happen” when it is there and “you feel it when you have it”. I was looking for some framework to work on getting better with trust building, where this book perfectly fit into. To start with Stephen establishes a business case for trust by connecting trust, speed and cost. In case of high trust environment, more things happen in real than talking or following-up. Hence speed goes up and cost comes down. On the other hand when trust levels are low, both individuals and organizations end up paying “trust tax” which slows down the progress of the overall progress. So level of trust has direct impact on organization’s  top line and bottom line in terms of financial implications. In case of no tax, top line and bottom line both goes up creating a ‘win-win’ proposition.

After establishing business case for trust, Stephen delves into multiple layers of trust and what are the key behaviors that will enhance the level of trust in any given situation. He starts with individual trust and further followed by relationship trust, organizational trust, market trust and societal trust. He goes on explaining key elements of building trust at various levels starting with individuals. Because if as an individual we don’t trust ourselves with highest level of authenticity, it becomes naturally reflected in other activities we handle and it gets passed on to others as a lower trust message.

As a part of trust framework, Stephen mentions how credibility is fundamental in establishing trust. In order to establish credibility four cores namely intent, integrity, capability and results play a vital role by laying down strong foundation. If these four codes are having issues with an individual, no amount of behavioral tactics will help in building trust. Once these cores are established strongly (thereby having higher credibility), individuals need to demonstrate certain key behaviors to establish higher trust environment. He talks about 13 behaviors (Talk straight, Demonstrate respect, Create transparency, Right wrongs, Slow loyalty, Deliver results, Get better, Confront reality, Clarify expectations, Practice accountability, Listen first, Keep commitments, Extend trust) as key behavioral elements.

With lucid examples and case studies Stephen takes though the framework of trust building. Stephen also talks about “Smart trust” where balancing right level of trust by tuning these parameters. Extending too much of trust sometimes might backfire (and I have personal experience in doing that) whereas extending less might create lesser trusty environment. So assessing the situation and extending right level of trust is key to have desired results. From outside trust might look like a intangible item, but its implications are very deep. It was a very hard and enriching learning to go through the framework and understand various elements of building trust.

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